If the Big Four are questioning the legalities of what they have planned,  than they know what they are doing is wrong! Robbing Peter to pay Paul never works.

The document given to me by Columbia Council John Knight is where I got the below numbers and figures. Final Bond payment is in the year 2018. There are two interesting sentences' on this document. As follows: "The advantage of holding the reserve for FY 07 of ($350,000.00) would be to cash flow payments/activities prior to annual tax payments. However, use of the reserve is a discretionary item that can be applied in various ways."
The quoted sentences would seem to have the implication that they can use this money any way that they choose.

List of Special Districts: % of Total REFUND:
City of Rainier 50.44 % $151,321.00
Columbia County 13.44% $40,321.00
New regional ESD 1.49% $4,472.00
911 Communications 2.48% $7,426.00
4-H Extension 0.55% $1,660.00
Port of St. Helens 0.86% $2,576.00
Vector Control 1.24% $3,719.00
Columbia River Fire and Rescue 28.81% $86,443.00
Rainier Cemetery 0.69% $2,016.00
Total Refund: $300,000
Capped money $300,000.00
Returned Money $300,000.00
Total $600,000.00 Yearly payment to USG